Authorised buyers have purchased a total of 768,000 troy ounces of the US Mint’s flagship 2016 American Eagle gold bullion coins so far this year, according to the latest figures.

The figure is the total of one ounce, half, quarter and one tenth of an ounce versions of the bullion coin, with 24,000 ounces sold in the most recent weekly update. The coin is currently marking its 30th anniversary since its introduction.

Total sales so far for the 2016 American Buffalo one troy ounce gold coins stand at 163,000, with 5,000 purchased in the latest weekly statistics, Coin Update reported.

In what has been a volatile year in the US, with the race for the White House helping to increase the popularity of gold as a safe haven for investors, it looks likely that sales of both types of bullion coin will surpass last year’s figure. In 2015, 801,500 ounces of Gold Eagles and 220,500 ounces of Gold Buffalos were sold.

The Mint sells directly to authorised buyers – or official dealers – who then sell the coins on to the public. The high levels sold this year are evidence of the strong appetite among investors for gold bullion coin collecting.

Gold bullion coin collecting is a popular way to invest in gold. As well as the intrinsic value of the gold contained in the coin, investors are often able to make an additional profit on the rarity of their coins when they come to sell.

As well as gold coins, the US Mint also produces investment coins in silver and platinum. Already this year, the total mintage for coin of all precious metals is ahead of last year, which stood at 212,000.

Figures released by the Mint also showed that 2016 currently has the second-highest production of the highly valuable five ounce America the Beautiful gold coins after 2011, when it made 465,100 pieces.